Subtrusts Sample Clauses
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Subtrusts. 2.03-1 The Trustee shall establish a separate subtrust ("Subtrust") for each Plan to which it shall credit contributions it receives which are earmarked for that Plan and Subtrust. The Trustee shall also establish a separate Subtrust to which it shall credit contributions it receives which are earmarked to the special reserve for payment of future fees and expenses of the Trustee and future trust fees and expenses for legal and administrative proceeding. Each Subtrust shall reflect an undivided interest in assets of the trust fund and shall not require any segregation of particular assets. except that an insurance contract covering benefits of a particular Plan shall be held in the Subtrust for the Plan. All contributions shall be designated by the Company for a particular Subtrust. However, any contribution received by the Trustee which is not earmarked for a particular Subtrust shall be allocated among the Subtrusts as the Trustee may determine in its sole discretion. The Committee may direct the Trustee to maintain a separate sub-account within each Subtrust for a Plan for each Participant who discovered by the Subtrust. Each sub-account in a Subtrust shall reflect an individual interest in assets of the Subtrust and, as much as possible, shall operate in the same manner as if it were a separate Subtrust.
2.03-2 The Trustee shall allocate investment earnings and losses and expenses of the trust fund among the Subtrusts in proportion to their balances, except that changes in the value of an insurance contract (including premiums and interest on loans on an insurance contract) shall be allocated to the Subtrust for which it is held. Payments to creditors during Insolvency Administration under 5.02 shall be charged against the Subtrusts in proportion to their balances, except that payment of Plan benefits to a Participant as a general creditor shall be charged against the Subtrust for that Plan.
2.03-3 Assets allocated to a Subtrust for one plan may not be utilized to provide benefits under any other Plans until all benefits under such Plan have been paid in full, except that Excess Assets of a Subtrust may be transferred to other Subtrusts pursuant to 2.04-5.
Subtrusts. (a) The MART Assets, immediately upon the acquisition thereof by MART, shall be allocated to, and identified only with, a Subtrust under this Agreement (each such subtrust, a "Subtrust", and the assets allocated to each such Subtrust, "Subtrust Assets"). Each Subtrust shall be a separate series of MART pursuant to Section 3806(b)(2) of the Business Trust Statute. The Board of Managers shall cause an Authorized Officer to account for and record separately all Subtrust Assets and the proceeds thereof allocated to any Subtrust from the Subtrust Assets and the proceeds thereof allocated to any other Subtrust. The Board of Managers shall cause an Authorized Officer to maintain separate and distinct records for the Subtrust Assets related to each Subtrust and to hold and account for the Subtrust Assets related to each Subtrust separately from the Subtrust Assets related to any other Subtrust. Except to the extent required by law or specified in this Agreement, the debts, liabilities and expenses incurred, contracted for or otherwise existing with respect to any Subtrust shall be enforceable against the assets of such Subtrust only, and not against the assets of MART generally or of any other Subtrust, and, except to the extent required by law or specified in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to MART generally shall be enforceable against the assets of any Subtrust.
(b) Notice of the limitation on interseries liabilities between Subtrusts applicable to each Subtrust and the Subtrust Assets has been set forth in the Certificate of Trust as filed in the office of the Secretary of State pursuant to the Business Trust Statute and the Original Agreement. It is the express intent of the parties hereto that effective upon the giving of such notice in the Certificate of Trust, the statutory provisions of Section 3804 of the Business Trust Statute relating to limitations on interseries liabilities (and the statutory effect under Section 3804 of the Business Trust Statute of setting forth such notice in the Certificate of Trust) became applicable to MART, the Trustee, the Beneficial Owner and the Subtrust Assets related to each Subtrust. The limitation on interseries liabilities is included in the Certificate of Trust as filed with the Secretary of State in the form attached hereto as Exhibit A.
(c) Any Security and every note, bond, contract or other undertaking issued by or...
Subtrusts. (a) The MART Assets, immediately upon the acquisition thereof by MART, shall be allocated to, and identified only with, a Subtrust under this Agreement (each such subtrust, a "Subtrust", and the assets allocated to each such Subtrust, "Subtrust Assets"). Each Subtrust shall be a separate series of MART pursuant to Section 3806(b)(2) of the Business Trust Statute. The Board of Managers shall cause an Authorized Officer to account for and record separately all Subtrust Assets and the proceeds thereof allocated to any Subtrust from the Subtrust Assets and the proceeds thereof allocated to any other Subtrust. The Board of Managers shall cause an Authorized Officer to maintain separate and distinct records for the Subtrust Assets related to each Subtrust and to hold and account for the Subtrust Assets related to each Subtrust separately from the Subtrust Assets related to any other Subtrust. Except to the extent required by law or specified in this Agreement, the debts, liabilities and expenses incurred, contracted for or otherwise existing with respect to any Subtrust shall be enforceable against the assets of such Subtrust only, and not against the assets of MART generally or of any other Subtrust, and, except to the extent required by law or specified in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to MART generally shall be enforceable against the assets of any Subtrust.
Subtrusts. (a) If directed by the Committee, the Trustee shall establish a separate Subtrust for that Participant and credit the amount of such contribution to that Participant's Subtrust. Each Subtrust shall reflect an individual interest in the assets of the Trust fund and shall not require any segregation of particular assets.
(b) Following the allocation of assets to Subtrusts pursuant to Section 3.3(a), the Trustee shall allocate investment earnings and losses of the Trust fund among the Subtrusts in accordance with Section 5.2 and as directed by Company. Payments to general creditors pursuant to Section 4.2 hereof shall be charged against the Subtrusts in proportion to their account balances, except that the payment of benefits to a Trust Beneficiary shall be charged against the Subtrust established or maintained for such Trust Beneficiary.
(c) Amounts allocated to a Participant's Subtrust may not be utilized to pay benefits to another Participant or Beneficiary of another Participant. Following payment of a Participant's entire benefit under the Plan, including payment of an early distribution under Section 6.2 of the Plan (whether by the Trustee pursuant to the terms of this Trust Agreement or by the Participating Company or by a combination thereof), any amounts remaining allocated to that Participant's Subtrust shall be transferred by the Trustee to the Participating Company. In lieu of transferring such amounts, the Committee may direct the Trustee to retain such amounts in Trust allocated in accordance with Section 5.
Subtrusts. Effective as of the Merger (as defined below), a subaccount (the “Pre-Merger Subtrust”) shall be established under the Trust, and all of the assets held in the Trust as of the effective time of the Merger shall be allocated to the Pre-Merger Subtrust. The Pre-Merger Subtrust shall be maintained as part of the Trust and the assets allocated thereto shall be held by the Trustee in accordance with the terms and conditions of the Trust Agreement.
Subtrusts. If directed by the Administrator, the Trustee shall establish a separate Subtrust for a Participant and credit the amount of such contribution to that Participant’s Subtrust. Each Subtrust shall reflect an individual interest in the assets of the Trust fund and shall not require any segregation of particular assets.
Subtrusts. Upon a Change in Control, or earlier if the Employer deposits amounts into the Trust with respect to the Plans identified on Exhibit A as Group B Plans, the Trustee shall establish 1) one Subtrust for the Group A Plans identified on Exhibit A, and 2) individual Subtrusts for each of the Group B Plans identified on Exhibit A, and shall separately account for the assets in the Trust that are attributable to the Group B Subtrusts.
Subtrusts. The Trustee shall establish a separate subtrust ("Subtrust") for each Plan to which it shall credit contributions it receives which are earmarked for that Plan and Subtrust. The Trustee shall also establish a separate Subtrust to which it shall credit contributions it receives which are earmarked to the special reserve for payment of future fees and expenses of the Trustee and future trust fees and expenses for legal and administrative proceedings. Each Subtrust shall reflect an undivided interest in assets of the trust fund and shall not require any segregation of particular assets, except that an insurance contract covering benefits of a particular Plan shall be held in the Subtrust for the Plan. All contributions shall be designated by the Company for a particular Subtrust. However, any contribution received by the Trustee which is not earmarked for a particular Subtrust shall be allocated among the Subtrusts as the Trustee may determine in its sole discretion. The Committee may direct the Trustee, or the Trustee may determine on its own initiative, to maintain a separate sub-account within each Subtrust for a Plan for each Participant who is covered by the Subtrust. Each sub-account in a Subtrust shall reflect an individual interest in assets of the Subtrust and, as much as possible, shall operate in the same manner as if it were a separate Subtrust.
Subtrusts. This Trust may receive contributions for more than one Participant, pursuant to the separate Agreement for each such Participant, provided in the event that more than one Participant is covered by the Trust, a separate subtrust shall be established for each such Participant in a manner that satisfies the provisions of the last sentence of the preceding section (9.2) of this Agreement.
Subtrusts. 2.03-1 The Trustee shall establish a separate subtrust ("Subtrust") for each Plan to which it shall credit contributions it receives which are earmarked for that Plan and Subtrust. The Trustee shall also establish a separate Subtrust to which it shall credit contributions it receives which are earmarked to the special reserve for payment of future fees and expenses of the Trustee and future trust fees and expenses for legal and administrative proceedings. Each Subtrust shall reflect an undivided interest in assets of the